IMF says it's time for Europe to act

Aug 31 - Expect the euro zone to start implementing measures to solve its debt crisis come fall, according to David Lipton, First Deputy Managing Director of the IMF.

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We're here in Jackson Hole Wyoming after a Federal Reserve Chairman Ben Bernanke gave his. Big speech Whitney is David -- IMF first deputy managing director really get to talk to you. Your reaction -- what you heard from mr. Bernanke particularly. Be nudged toward European policy makers to push forward to resolve the crisis. Well we have problems. Both in the United States and in Europe the US -- would fiscal cliff and -- to get on with. Consolidating the budget Europe has to do problems for free but also provided good environment for growth for us here. And I'm glad to hear. Chairman Bernanke addressing. The subject the IMF has been saying we think needs to be done. And eager and we've we've seen decisions in Europe about from high political. -- political levels. And I think we're gonna see this -- the shift from. Question of what's to be done to how to go about him. Do you think that we will here's something definitive from the ECB next week and how quickly might we see QE3 in the US. I don't know -- what will happen in any particular. Needing. But I think the most important thing is associated Europe has made decisions from now it's time for. Europeans to decided to move forward and actually. Implemented this is a big agenda there's things for individual countries to do and there's things that need to be done in their institutions in this. The European central bank and. Agreed to being a European. -- What ECB policy makers said before there's more bond buying the IMF needs to have a role in developing economic reform programs. Your reaction. Well that's one person's view I think -- laid out the conceptual. Situation through. -- European Central Bank needs to make sure that it's monetary policy transmits. And so he's eager to take steps to. To make that happen but to do that he needs countries. To be clear that their fundamentals will be needs solid. And that has to be monitor it could be monitored by Europeans could be monitored by. The Europeans decide it was to. We certainly can play a role was playing -- -- already with programs these -- Those of the country so asked us for help so you would be prepared to go further -- you know we're open to respond to our members. Request we've not received any. And so for now -- understand that.

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